Annual Meeting of Stockholders - PARK NATIONAL CORP

Financial Performance:

• Fiscal 2026 total revenue grew 9% to $7.5 billion; recurring revenue in constant currency increased 8% to $4.9 billion.
• Adjusted earnings per share (EPS) rose 12% year-over-year to $9.60.
• The company generated $305 million in closed sales and achieved a free cash flow conversion rate of 110% for the full year.
• The Board approved a 12% increase in the annual dividend to $4.36 per share, marking the 20th consecutive year of dividend increases.
• Fiscal 2027 Q1 reported 11% recurring revenue growth (constant currency) and a 10% year-over-year increase in closed sales to $36 million.

Guidance and Future Outlook:

• Management projects another year of steady and consistent top-line and bottom-line growth for the upcoming fiscal year.
• Future growth strategies focus on expanding digital engagement, advancing tokenization of equity and infrastructure, and scaling "Agentech" (AI agent) products and workflows.
• The company intends to leverage AI to enhance internal efficiency, support fund investment decisions, and drive earnings growth.
• Long-term positioning aims to bridge traditional and digital assets through a dedicated governance layer for tokenized equities.

Business Segments and Product Lines:

• Strategic pillars include democratizing and digitizing governance, simplifying and innovating digital capital markets, and modernizing wealth management.
• The company's VSM (Virtual Shareholder Meeting) solution powered over 2,500 annual shareholder meetings in the prior year, supporting tens of thousands of investor participations.
• Operations process over 800 million shareholder positions globally and facilitate the clearing and settlement of $10 trillion daily across the trade life cycle.
• The modular platform is being utilized to accelerate client digital transformation and improve advisor productivity.

Market and Competitive Landscape:

• Key market drivers identified are digitization, tokenization, and the emergence of agentic AI within financial services.
• Broadridge positions itself as a leader in corporate governance, investor communications, and trade life cycle management with unmatched scale and a unique industry vantage point.
• The company serves a diverse global network of clients, leveraging deep relationships with leading financial institutions to capture emerging market opportunities.

Risks and Challenges:

• The transcript does not explicitly detail specific external risks or challenges faced during the period.
• Implicit operational challenges involve executing the complex digital transformation and integration of new technologies (tokenization, AI) within high-stakes financial markets.

Management Commentary and Tone:

• CEO Tim Gokey expressed high confidence, stating "Broadridge has never been stronger" and affirming the company's ability to deliver strong financial results and create long-term shareholder value.
• The tone was optimistic and strategic, emphasizing the company's role as an "essential technology partner" enabling industry innovation.
• Management highlighted the strength of the business model and its execution against long-term growth trends.

Analyst Questions and Answers:

• No formal analyst Q&A session took place during this 2026 Annual Meeting of Stockholders; the session was limited to a business presentation followed by adjournment.
• Stockholders were permitted to submit questions online or via phone, but none were recorded in the transcript prior to the CEO's presentation.

Other Key Points:

• A quorum was present representing approximately 87% of outstanding shares, with 32 attendees participating.
• Three proposals were voted on: election of 10 director nominees (>94% approval), advisory vote on executive compensation (>91% approval), and ratification of Deloitte & Touche as the independent auditor (>98% approval).
• Board changes included the departure of long-serving members Brett Keller (11 years) and Amit Zavery (7 years), and the election of Sweeney Talapragada (President of Salesforce).
• The meeting was the 18th virtual-only annual meeting, powered by Broadridge's own VSM technology.